Macquarie Reaffirms “Outperform” Rating for Cedar Fair (NYSE:FUN)

Cedar Fair (NYSE:FUN)‘s stock had its “outperform” rating reiterated by analysts at Macquarie in a report issued on Friday,Benzinga reports. They presently have a $55.00 price target on the stock. Macquarie’s target price suggests a potential upside of 45.84% from the stock’s previous close.

Several other research firms have also issued reports on FUN. Truist Financial lifted their price target on shares of Cedar Fair from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on Cedar Fair from $43.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. StockNews.com cut Cedar Fair from a “hold” rating to a “sell” rating in a research note on Thursday. Guggenheim dropped their price target on Cedar Fair from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Cedar Fair in a research report on Monday, December 9th. They issued a “buy” rating and a $59.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.15.

Cedar Fair Stock Down 3.3 %

Shares of NYSE:FUN traded down $1.30 during trading on Friday, reaching $37.71. The stock had a trading volume of 2,115,460 shares, compared to its average volume of 1,363,229. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $3.78 billion, a P/E ratio of -58.93 and a beta of 1.54. The firm’s 50-day simple moving average is $45.12 and its 200 day simple moving average is $43.91. Cedar Fair has a one year low of $35.93 and a one year high of $58.70.

Hedge Funds Weigh In On Cedar Fair

An institutional investor recently bought a new position in Cedar Fair stock. Mutual of America Capital Management LLC purchased a new position in Cedar Fair, L.P. (NYSE:FUN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,459 shares of the company’s stock, valued at approximately $260,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.